Democrats were having a very good convention. Michelle Obama made America fall in love, Bill Clinton made voters believe. On the final night Thursday, Senator John Kerry, of all people, delivered a stirring call to arms ("Ask Osama bin Laden if he is better off than he was four years ago!"), and the oft-ridiculed Vice President Joe Biden went on only slightly too long, with a soft-spoken seriousness that rose above the political.
And then President Obama got up and just sort of didn't do anything special....
Is that anything like helium? The partner of hope is despair and our present is filled with that. Hope was what he promised us and hope is all we got. Only now, the hope is that we get rid of him and his sidekick, the Braying Donkey before all we have is despair.
Well, why not credit Clintoon with promoting a great economic environment? It was strictly bons temps rouler under Slick Willy.
Of course you wouldn't. Because he extended the foundation started by Saint Ronnie Raygun to allow the banking and financial sectors to detach themselves from real economic growth and generate the equity bubble frauds we see today.
Raygun ==> Clintoon ==> Chucklenuts ==> The Black Messiah
Figure it out and tell me that Governor Olympics is going to break the cycle.
Duck, The point of this brief post is to indicate that all the yapping about how BHO has to clean up the mess that GWB left is so much nonsense.
For the record, I've never taken a public position on Bill Clinton. Why? Because I wasn't paying all that much attention to politics until 9/11.
Also for the record, yes, I DID vote for GWB. Not enthusiastically, however. It was more a case of not wanting to vote for Gore (Mr. Nation Builder) or Kerry (John Fonda Kerry, who wanted to sit down to a chat with Osama bin Laden "to see what he wanted" (or some such).
The bloom is indeed off the rose. With a new and unknown candidate, people project their political fantasies on a blank slate. Now Obama is well known and his promises and repetitive stump speeches a whole lot less believable or inspiring.
Ducky, you misrepresent the equity bubble that the Democrats caused. Banks and mortgage companies were sued by the Clinton Administration to stop non-existent "red lining" and make bad loans to minorities. Once the lending standards were lowered for this purpose, they were lowered for everyone, not just minorities. The resulting bubble and crash was caused by the Democratic Party's interference in the housing markets. You own it.
CRA loans were regulated loans and had NOTHING to do with the bubble.
Was Countrywide issuing million dollar jumbos with no down payment because they were compelled by CRA?
Buy a freaking vowel.
Loans made in minority communities due to CRA have never experienced default rates higher than any other regulated mortgages (in fact they have always been a pinch lower). And f you believe that the American financial system collapsed because it didn't have sufficient liquidity to cover these defaults then you are so blatantly ignorant you really shouldn't be commenting.
Let me guess, you listen to Beck or The Vulgar Pigboy regularly.
Conservatives on Fire, I agree with you about Romney's speech at RNC 2012 -- especially the first part of the speech. He did improve about halfway through.
But Obama's speech? Recyle and retread. A boring speech -- with no substance and no details. Clinton outdid BHO by a long shot, IMO.
Whoever the screaming woman was at last night's DNC was something else! She reminded me of Howard Dean in 2004. Maybe she was off her meds?
The equity bubble that Stogie mentioned certainly can be laid at the door of the Dems in large part.
Recently, I read that Obama wants to loosen up loans, that is, see to it that loans most likely not able to be repaid are given. Such would be a recipe for disaster and a repeat of the last crash of the housing market.
I don't know just who all defaulted on loans.
But I do observe this via anecdotal fashion: it SEEMED that a lot of white folks who suffered, more or less, temporary setbacks, couldn't get their loans renegotiated whereas a lot of non-whites seemed not to have that problem. If true....
Duck, In many respects, there is plenty of blame to go around.
Perhaps much of the problem goes back to this: the middle class has been trying to live like the very rich AND thought that the housing bubble would never end.
A good discussion about the CRA took place the other day, and of course, Ducky blamed the entire mess on Reagan. As you know, Reagan is Ducky’s favorite villain. Now even though it is true that Reagan reduced government regulation (which he promised to do during his campaign), one cannot say there was NO regulation. There was regulation—but the DEMOCRATS in Congress ignored them, or took PERSONAL advantage of them. We continue to wonder why Dodd and Frank aren’t in jail. We wonder why only Democrats get to husband Freddie Mac and Sallie Mae. Well, for starters, it’s a great payback: Raines & Gorelick.
Meanwhile, there is no way Ducky will listen to anything Stogie has to say because Ducky is a leftist and therefore perpetually stuck on stupid.
So Stogie is a CPA. His understanding of the meltdown is still deficient.
The primary cause of the meltdown was the drop in housing prices. Wall Street had issued trillions in derivatives that were bets that housing prices would rise almost indefinitely. A couple smart folks made a bundle betting the other way but very few. The downfall of the American investment banking industry was only tangentially related to the unregulated mortgage fiasco.
It was not a matter of poor people not being able to pay their mortgages other than those folks who were talked into leaving their secure fixed rate mortgages for inappropriate exotic instruments.
Also let me remind Sam for the upteenth time that I am a leftist. I do not apologize for that and as a result I find Dem and Repub to be disgusting. The difference? The Dems have a slightly higher percentage of non-nuts. Again, if you are so damn ignorant of the legislative process that you think a minority member of the banking committee had that kind of power while the bubble was building under Bush then do a little study.
Barney Frank/Chris Dodd, you're like a trained parrot.
Of course Greenspan, Ayn's cabana boy was right in the middle of it all but you never mention him or his belated admission the self correcting markets are a delusion.
That picture sure speaks volumes. And yet, the Dems and libs refuse to believe Obama did anything to make things worse, they would prefer to continue to blame President Bush for every failure that Obama has attempted.
Duck, Stogie knows more about the meltdown than you may realize. He lives in California, I think.
What's happening in the California economy will be repeated all across the United States. The live-large, spend-large economy is simply not sustainable forever.
The crash of the housing market hasn't stopped, you know.
Is the housing market a major driver of our economy? Yes. Is Wall Street? Yes.
The wiping out of wealth that will never be used for buying is still reverberating. Is it any wonder that so many big box stores are gone?
I also contend that the next tsunami is the aging Boomers. I'm not only referring to ailing Boomers -- although, of course, aging Boomers don't buy a lot, as this household well knows. For example, even with the souring price, our gasoline bill here is very low: Mr. AOW did a lot of driving, and we also took a lot of road trips and other types of vacations. No more! Mr. AOW no longer needs a lot of new clothes. Mr. AOW no longer buys cars to repair and sell. We rarely go out to dinner. I could go on and on. You get the point -- and what I'm describing is being repeated all across America and not only being repeated by ailing Boomers, either.
Now that healthy Boomers are retiring and not purchasing as many things for themselves and their children, buying must slow down overall.
We should recognize that for decades the Boomers have been a major driving force of the economy. Soon, the verb will be "were."
The fall of housing values and the fall of securities have dramatically affected Boomers, particularly the ailing ones. When medical bankruptcy arrives for these Boomers, the lower assets impact the healthcare industry as well.
For example, I have a friend whose father, age 85, is now on Medicaid in a nursing home. The value of the man's property was $75,000 a few years ago. Now, the value is much lower, and the property is unsellable. Medicaid gets zero to help pay for the man's care, which runs about $700/month. The man had a small CD, but with no decent interest coming in, that CD stopped growing. Medicaid seized the CD, of course, and now that pool of money has been sucked down a rathole.
We welcome civil dialogue at Always on Watch. Comments that include any of the following are subject to deletion: 1. Any use of profanity or abusive language 2. Off topic comments and spam 3. Use of personal invective
Wow:
ReplyDeleteTHE ATLANTIC:
Democrats were having a very good convention. Michelle Obama made America fall in love, Bill Clinton made voters believe. On the final night Thursday, Senator John Kerry, of all people, delivered a stirring call to arms ("Ask Osama bin Laden if he is better off than he was four years ago!"), and the oft-ridiculed Vice President Joe Biden went on only slightly too long, with a soft-spoken seriousness that rose above the political.
And then President Obama got up and just sort of didn't do anything special....
More at the above link.
Clearly, the bloom is off the Obama rose.
Romney¡s speech at the RNC was so-so at best. But,videos of the speech of The One could be marketed as non-addictive sedatives.
ReplyDeleteObama says: "Ours is a future filled with hope."
ReplyDeleteIs that anything like helium? The partner of hope is despair and our present is filled with that. Hope was what he promised us and hope is all we got. Only now, the hope is that we get rid of him and his sidekick, the Braying Donkey before all we have is despair.
I think you're supposed to smoke hopium. I hear it makes you as high as a communist at the Democratic National Convention.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThe hopium smoke has dissipated, and the thrill is gone from Chris Matthews' leg...
ReplyDeleteI thought I heard my name ;-) Thanks for the hat tip.
ReplyDeleteWell, why not credit Clintoon with promoting a great economic environment? It was strictly bons temps rouler under Slick Willy.
ReplyDeleteOf course you wouldn't. Because he extended the foundation started by Saint Ronnie Raygun to allow the banking and financial sectors to detach themselves from real economic growth and generate the equity bubble frauds we see today.
Raygun ==> Clintoon ==> Chucklenuts ==> The Black Messiah
Figure it out and tell me that Governor Olympics is going to break the cycle.
Duck,
ReplyDeleteThe point of this brief post is to indicate that all the yapping about how BHO has to clean up the mess that GWB left is so much nonsense.
For the record, I've never taken a public position on Bill Clinton. Why? Because I wasn't paying all that much attention to politics until 9/11.
Also for the record, yes, I DID vote for GWB. Not enthusiastically, however. It was more a case of not wanting to vote for Gore (Mr. Nation Builder) or Kerry (John Fonda Kerry, who wanted to sit down to a chat with Osama bin Laden "to see what he wanted" (or some such).
The bloom is indeed off the rose. With a new and unknown candidate, people project their political fantasies on a blank slate. Now Obama is well known and his promises and repetitive stump speeches a whole lot less believable or inspiring.
ReplyDeleteThe country has Obama fatigue.
Ducky, you misrepresent the equity bubble that the Democrats caused. Banks and mortgage companies were sued by the Clinton Administration to stop non-existent "red lining" and make bad loans to minorities. Once the lending standards were lowered for this purpose, they were lowered for everyone, not just minorities. The resulting bubble and crash was caused by the Democratic Party's interference in the housing markets. You own it.
ReplyDeleteStogie, cut the crap.
ReplyDeleteCRA loans were regulated loans and had NOTHING to do with the bubble.
Was Countrywide issuing million dollar jumbos with no down payment because they were compelled by CRA?
Buy a freaking vowel.
Loans made in minority communities due to CRA have never experienced default rates higher than any other regulated mortgages (in fact they have always been a pinch lower).
And f you believe that the American financial system collapsed because it didn't have sufficient liquidity to cover these defaults then you are so blatantly ignorant you really shouldn't be commenting.
Let me guess, you listen to Beck or The Vulgar Pigboy regularly.
Conservatives on Fire,
ReplyDeleteI agree with you about Romney's speech at RNC 2012 -- especially the first part of the speech. He did improve about halfway through.
But Obama's speech? Recyle and retread. A boring speech -- with no substance and no details. Clinton outdid BHO by a long shot, IMO.
Whoever the screaming woman was at last night's DNC was something else! She reminded me of Howard Dean in 2004. Maybe she was off her meds?
The equity bubble that Stogie mentioned certainly can be laid at the door of the Dems in large part.
ReplyDeleteRecently, I read that Obama wants to loosen up loans, that is, see to it that loans most likely not able to be repaid are given. Such would be a recipe for disaster and a repeat of the last crash of the housing market.
I don't know just who all defaulted on loans.
But I do observe this via anecdotal fashion: it SEEMED that a lot of white folks who suffered, more or less, temporary setbacks, couldn't get their loans renegotiated whereas a lot of non-whites seemed not to have that problem. If true....
Duck,
ReplyDeleteIn many respects, there is plenty of blame to go around.
Perhaps much of the problem goes back to this: the middle class has been trying to live like the very rich AND thought that the housing bubble would never end.
PS to Duck: Stogie is a CPA. Just sayin'.
ReplyDelete@ AOW
ReplyDeleteA good discussion about the CRA took place the other day, and of course, Ducky blamed the entire mess on Reagan. As you know, Reagan is Ducky’s favorite villain. Now even though it is true that Reagan reduced government regulation (which he promised to do during his campaign), one cannot say there was NO regulation. There was regulation—but the DEMOCRATS in Congress ignored them, or took PERSONAL advantage of them. We continue to wonder why Dodd and Frank aren’t in jail. We wonder why only Democrats get to husband Freddie Mac and Sallie Mae. Well, for starters, it’s a great payback: Raines & Gorelick.
Meanwhile, there is no way Ducky will listen to anything Stogie has to say because Ducky is a leftist and therefore perpetually stuck on stupid.
Sam,
ReplyDeleteI missed that discussion because of the start of the 2012-2013 school term. I guess that I need to look up the discussion.
So Stogie is a CPA. His understanding of the meltdown is still deficient.
ReplyDeleteThe primary cause of the meltdown was the drop in housing prices. Wall Street had issued trillions in derivatives that were bets that housing prices would rise almost indefinitely. A couple smart folks made a bundle betting the other way but very few.
The downfall of the American investment banking industry was only tangentially related to the unregulated mortgage fiasco.
It was not a matter of poor people not being able to pay their mortgages other than those folks who were talked into leaving their secure fixed rate mortgages for inappropriate exotic instruments.
Also let me remind Sam for the upteenth time that I am a leftist. I do not apologize for that and as a result I find Dem and Repub to be disgusting. The difference? The Dems have a slightly higher percentage of non-nuts.
Again, if you are so damn ignorant of the legislative process that you think a minority member of the banking committee had that kind of power while the bubble was building under Bush then do a little study.
Barney Frank/Chris Dodd, you're like a trained parrot.
Of course Greenspan, Ayn's cabana boy was right in the middle of it all but you never mention him or his belated admission the self correcting markets are a delusion.
That picture sure speaks volumes. And yet, the Dems and libs refuse to believe Obama did anything to make things worse, they would prefer to continue to blame President Bush for every failure that Obama has attempted.
ReplyDeleteWe also seem to forget that Mr Bush brought the economy back from the massive HIT it took, literally and physically, on 9/11.
ReplyDeleteHe also wished to revamp Social Security was was roundly kicked by the Demorats for his efforts.
BZ
That's a great image, I might have to grab it for Right Truth
ReplyDeleteDebbie
Right Truth
http://www.righttruth.typepad.com
Duck,
ReplyDeleteStogie knows more about the meltdown than you may realize. He lives in California, I think.
What's happening in the California economy will be repeated all across the United States. The live-large, spend-large economy is simply not sustainable forever.
The crash of the housing market hasn't stopped, you know.
Is the housing market a major driver of our economy? Yes. Is Wall Street? Yes.
The wiping out of wealth that will never be used for buying is still reverberating. Is it any wonder that so many big box stores are gone?
I also contend that the next tsunami is the aging Boomers. I'm not only referring to ailing Boomers -- although, of course, aging Boomers don't buy a lot, as this household well knows. For example, even with the souring price, our gasoline bill here is very low: Mr. AOW did a lot of driving, and we also took a lot of road trips and other types of vacations. No more! Mr. AOW no longer needs a lot of new clothes. Mr. AOW no longer buys cars to repair and sell. We rarely go out to dinner. I could go on and on. You get the point -- and what I'm describing is being repeated all across America and not only being repeated by ailing Boomers, either.
Now that healthy Boomers are retiring and not purchasing as many things for themselves and their children, buying must slow down overall.
We should recognize that for decades the Boomers have been a major driving force of the economy. Soon, the verb will be "were."
(continued)
(continued)
ReplyDeleteThe fall of housing values and the fall of securities have dramatically affected Boomers, particularly the ailing ones. When medical bankruptcy arrives for these Boomers, the lower assets impact the healthcare industry as well.
For example, I have a friend whose father, age 85, is now on Medicaid in a nursing home. The value of the man's property was $75,000 a few years ago. Now, the value is much lower, and the property is unsellable. Medicaid gets zero to help pay for the man's care, which runs about $700/month. The man had a small CD, but with no decent interest coming in, that CD stopped growing. Medicaid seized the CD, of course, and now that pool of money has been sucked down a rathole.
This comment has been removed by a blog administrator.
ReplyDelete